Forward Markets Commission working on single clearance for commodity exchanges

The Forward Markets Commission has set up a working group to prepare a roadmap and a structure for a common clearing system for all commodity exchanges in the country in order to reduce transaction costs of market participants and strengthen risk management systems.
The commodity markets regulator announced this in an office memorandum on Monday. The move comes in the backdrop of the payment crisis involving the National Spot Exchange Ltd that broke out in July last year when the exchange could not settle contracts………………………………………..Full Article: Source